Bentley Leathers filed a Notice of Intention to make a proposal to its creditors and plans to restructure

MONTREAL, Nov. 27, 2019 /CNW Telbec/ – November 26, 2019 Canadian retailer Bentley Leathers Inc. files a notice of intention to propose the restructuring of its operations. The changing consumer behavior, the impact of the digital disruptions combined with operating over 250 stores across the nation have significantly impacted the profitability of the company. Management is confident the new plan will better position the company moving forward.

While Bentley remains a dominant player in its market, like many retailers, it has seen its financial performance challenged in recent years. Given Bentley still has a significant opportunity to grow and to allow the continuation of its operations, the Company filed today a notice of intention to make a proposal for restructuring. This process has been put in place to secure the long-term viability of the Company for the best interest of its employees, customers and suppliers.

We are currently in the process of analyzing each store’s performance and its contribution to the Company’s profitability. While it is too early to identify the exact number of store closures or head office impact, Bentley will be closing less profitable stores while planning to keep the majority of its stores. These are some of the measures that will be put in place to ensure the company’s long-term viability.

Management is confident that the business will be successful in its reorganization to the benefit of all stakeholders. Black Friday is going ahead as normal and it is business as usual moving forward.

We have grown rapidly in the last 20 years and have become a household name for retail luggage, handbags, business bags, and travel accessories, all synonymous with value, selection and excellent customer service.